Australia markets decline on banks

Most Asia-Pacific region equities markets saw advances on Friday, led higher by reports of higher profits within the oil sector and on predictions that sales will rise from within the electronics sector. The main exception was Australia’s markets, which fell on declines among banks after one Australian bank hiked interest rates on its home loans. The Sydney Ordinaries fell 0.32 percent to 5,401.2 while the S&P/ASX200 was down 0.38 percent to 5,351.1. The Taiex was up 0.2 percent to 8,623.48 in Taiwan while Straits Times Index was 0.22 percent higher to 3,031.9 in Singapore. The Kospi index added 1.53 percent to 1,701.83. India’s Sensex gained 2.22 percent to 16,371.29. The Hang Seng was up 2.74 percent to 23,285.95 while the Shanghai Composite was 4.94 percent higher to 3,580.15.

Tokyo’s markets saw gains on the session, helped by gains in the real estate sector and among companies related to commodities. The Nikkei 225 was up 1.71 percent to 12,820.47 while the Topix index added 1.42 percent to 1,243.81 and the Mothers market gained 1.2 percent to 630.37. Besides the gains in the real estate sector, traders and the oil sector were both higher as metals and crude oil prices saw gains, while the paper sector was also up.

In Europe, equities markets were lower on fears that earnings, especially in sectors like construction and retail, will drop due to the general economic slowdown. The FTSE Eurofirst 300 was 0.54 percent lower to 1,264.68. The Dax was down 0.28 percent to 6,559.9 while the CAC-40 fell 4,695.92 and the IBEX dropped 0.71 percent to 13,442.4. Banks were higher while insurers gained on a possible merger in the sector. The steel sector and steel products manufacturers were higher, as were software groups and tire makers. Hotel operators, airlines, aerospace groups, utilities, and the chemicals sector were among the day’s losers.

London’s markets were also lower on the session. The FTSE 100 fell 0.43 percent to 5,692.9 while the FTSE 250 dropped 0.21 percent to 9,961.3. Most retailers were down on declines in retail sales and consumer confidence in March, while homebuilders were lower on concerns about home values. Property investors and banks were also down. Miners were mixed, with more higher than lower, while pubs operators and the telecommunications sector both saw gains.

Wall Street was mixed in mid-afternoon trade after the Commerce Department reported that consumer spending was up by only 0.1 percent in February at the same time that personal incomes rose by 0.5 percent.. The Dow Jones Industrial Average was down 0.17 percent to 12,281.37 and the S&P 500 fell 0.22 percent to 1,322.78 but the Nasdaq Composite gained 0.27 percent to 2,274.67. Retailers were lower on a profit warning from inside the sector while airlines declined after a week of flight cancellations. On the other hand, oil refiners saw gains on hopes of increased profit margins after crude oil prices fell. Apple, Inc. (NAS: AAPL; LSE: ACP; FWB: APC), on the other hand, was up after a report that it will debut an upgraded iPhone in the second quarter.

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